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The Ultimate Guide to Credit Report Reading



Credit Report

Wondering what the credit and loan accounts on your credit report mean? Or about how to understand your credit report? 

You’ve come to the right place. 

Reading a credit report can be confusing, especially if it’s your first time trying to make sense of it. But knowing how to read your credit report is crucial because it helps you find any credit discrepancies and signs of fraud. 

So, even if you’re debt-free or don’t care what big banks think about you, learning how to read your credit report is great for your financial health. However, knowing where to start with your credit report can be a bit overwhelming. 

But don’t worry! We’ve done the heavy lifting so you can breathe free. Ready? Let’s get into it!


What’s a Credit Report?

A credit report is a very detailed report or record of your credit history. Lenders use it to understand whether or not they should lend you money, such as auto financing or mortgages. Even your landlord may look at your credit report to decide whether or not to rent to you. 

Credit reports are created by credit-reporting bureaus like TransUnion, Experian, or Equifax. They allow these bureaus to calculate your credit score, a three-digit number used by lenders to understand how likely you are to pay back a loan. 

High credit scores indicate the presence of positive information on your credit report, while a low credit score indicates the presence of negative information. 

Read Also: What are the top tax documents that you should keep?

What’s in a Credit Report? 

Credit reports include the following: 

  • Synchronized Information About the Different Types of Accounts You Have

 Your credit report will list the number of all types of accounts you have — whether delinquent or current. 

Some of the accounts that could be mentioned on your credit report could include:

  • Installment Accounts – Accounts related to loans that are not related to education or car loans. 
    • Revolving Accounts – Accounts related to current lines of credit or credit cards.
    • Real Estate Accounts – Accounts relating to current mortgages. 
  • Miscellaneous Accounts – Accounts that don’t fall into the above categories. 
  • The Number of Accounts You’ve Opened or Closed

The credit report will also mention how many accounts you’ve opened or closed over the years. For example, if you’ve opened a total of five credit accounts throughout your credit history, your credit report will mention that. 

  • The Number of Inquiries Made Against Your Credit

Credit reports often list the number of inquiries made against your line of credit by potential lenders within the last two years.  

Credit inquiries on your report may include “hard” and “soft” inquiries. 

  • Hard inquiries – These are made when lenders check your credit report to approve your application and when you apply for new credit cards, loans, mortgages, and credit card limit increases. 
  • Soft inquiries – These are made when lenders check your credit report for promotional purposes, such as offering goods and services to you. They also happen when you get your credit checked. 
  • Your Account History 

The account history section of the report is very detailed and contains the most information. It includes details about your credit accounts and whether or not you were consistent with your payments. 

It will include several entries. Each entry will contain the following pieces of information: 

  • Creditor Name – The institution that is reporting the information, such as Equifax or TransUnion. 
  • Account Number – The number of your account. 
  • Account Type – The type of account, such as real estate, revolving, or collection accounts. 
  • Opening Date – The date you opened the account. 
  • Monthly Payment – The amount of money you must pay to the account each month. 
  • Reporting Date – The last date the creditor updated the information with your specific bureau. 
  • Level of Responsibility – Whether you have single, joint, or authorized user access to the account. 
  • Balance/Owed Amount – The amount you have in the account or owe to the lender. 
  • The Credit Limit/Loan Amount – The amount of loan you’re entitled to. 
  • Past Dues – The amounts that are past due.
  • Remarks – Your creditor’s remarks about your account.
  • Payment Status – Your account’s status, such as charge-off, current, or past due.
  • Payment History – Your monthly payment schedule since the account was created. N
  • Public Records

If you’ve declared bankruptcy before, it will appear on your credit report and may even stay there for seven to ten years. Similarly, foreclosures, arrests, divorces, lawsuits, and repossessions will also be found here. 

How to Read Your Credit Report

Here’s how you can read your credit report: 

  • Check Your Identifying Information

If everything in the identifying information section refers to you and not someone else, you’re good. But still, take a few of the following preventative measures: 

  • Double-check your Social Security Number (SSN).
  • Ensure the addresses listed in the section are places where you’ve actually lived. 
  • Read and Reread Your Credit History

Your credit history section contains the most information, so it may take you a bit to go through it, but go through it, you shall. 

Just make sure you look for any unfamiliar accounts and payments, unknown credit lines, and errors. 


Also, check for the following errors: 

  • Open accounts reported as delinquent
  • Closed accounts erroneously reported as open
  • Repeated account listings under the names of different creditors
  • Accounts reporting you as a joint owner when you’re an authorized user
  • Incorrect dates
  • Payments reported as late when they weren’t.
  • Make Sure You Recognize Your Employer History

Usually, your employer history is included in your credit report to ensure you’re who you say you are. It may be correct, but you should always check. 

If you find an error, shoot an email to HR to notify them of the mistake made by the pay stub creator and then approach your credit bureau to file a dispute. 

  • Scan the Public Records Section

Some sections need to have lots of information, but some don’t need any. The public records section is where you don’t need any information. If there’s information about the bankruptcy you declared as an independent contractor, that’s fine. 

But if the section shows a bankruptcy you declared when you were ten, there are some problems. 

  • Clear Up Your Inquiries Section

If you see an inquiry you don’t recognize, it could indicate your account has been compromised. However, it may also be a result of multiple lenders requesting your report after you apply for a mortgage or loan. 

Check the dates of all hard and soft inquiries. Make sure none of them are more than two years old. If they are, you can file a dispute and request an inquiry removal. 

What If You Do Find Errors in Your Credit Report?

If you find errors in your credit report, file a dispute with your credit bureau and get it updated. Remember: mistakes happen, but it’s important to catch them before anything drastic happens. 


Some errors you can declare a dispute on include: 

  • Former partners/spouses listed on loans, credit cards, and bank accounts
  • Addresses you’ve never lived at
  • Unfamiliar credit accounts and account numbers 
  • Incorrect reporting of account status, such as accounts incorrectly reported as delinquent or late

As disputes are usually viewed on a case-by-case basis, you have to provide documents to support your claim. These documents include your SSN, date of birth, a copy of your I.D., bank and credit card statements, loans or death certificates, etc. 

How to File a Credit Report Dispute?

The three credit bureaus accept online, phone, or mail disputes. Here’s how you can contact them:

  • TransUnion – File a dispute online, through the mail to TransUnion Consumer Solutions, P.O. Box 2000, Chester, PA, 19016-2000, or using the toll-free number (800) 916-8800.
  • Equifax – You can file a dispute by mail to Equifax Information Services, LLC, P.O. Box 740256, Atlanta, GA 30374-0256, online, or over the phone at (866) 349-5191.

Experian – You can file a dispute over the phone using the toll-free number included on your credit report, online, or by mail at Experian, P.O. Box 4500, Allen, TX 75013.

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People & Lifestyle

Izwe Savings and Loans Launches its Refreshed Brand to Better Serve Customers and Drive Growth




Izwe Savings and Loans, a leading financial service provider in Ghana, has unveiled its refreshed brand, marking a significant step towards enhancing customer service and fostering sustained growth.


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Flame Condoms Celebrates four couples in its ‘Sparks of  Love’ Campaign 




Flame Condoms, a product of Marie Stopes International treated four couples to an all-expense paid romantic date treat at Laboma beach.


Their social media campaign themed ‘Sparks of Love’ was engineered to celebrate four couples and give their love the spark it deserves this Valentine’s Day.

The four couples were picked up from their locations and chauffeured to Laboma Beach.


They were met with a candlelit set up, with roses shaped like a heart to create a serene yet romantic ambiance to set the mood. Ami Shikah, the host for the night greeted them with warmth and excitement to ease them into the activities of the night.

The couples were treated to a beachside dinner, as they enjoyed a sumptuous spread of gourmet delights. Against the backdrop of gently crashing waves and the rustle of palm trees, they savored every moment, relishing both the food and the company of their beloved.

Following the dinner, the couples were whisked away for a series of romantic activities carefully curated by Flame Condoms. They engaged in intimate conversations with Ami Shika the sex therapist to deepen their bond and ignite their flames of passion.


It was an opportunity to create new memories among the couples. Regardless of their backgrounds or stories, all four couples found themselves swept away by the shared moments of love.

As the night ended, the couples gathered around a crackling bonfire, and exchanged heartfelt conversations, dreams, and promises for the future. The highlight of the evening was a tender proposal made by one of the couples, adding an extra touch of romance to the atmosphere.


Flame Condoms’ initiative to treat four couples to a night of romance at Laboma Beach served as a reminder of the importance of love, intimacy, and connection in our lives. Against the stunning backdrop of nature’s beauty, these couples were given the gift of cherished moments and unforgettable experiences, all made possible by the commitment of Flame Condoms to promote healthy relationships and enhance pleasure.

Flame Condoms, a Marie Stopes International brand is dedicated to ensuring that Ghanaians have safe but pleasurable sex. Flame condoms come in two variants: Flame Xtacy and Flame Xtra, all featuring dotted or ribbed textures with a delay gel, and available in vanilla or strawberry flavors.

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RightCard (LemFi) doubles down on Bank of Ghana Approval with Nsano partnership.



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RightCard Payment Services Limited trading as LemFi is delighted to announce that it has obtained additional approval from by the Bank of Ghana (BoG) to partner with Nsano Limited to deliver money transfer services to Mobile Money Wallets and Bank Account Beneficiaries in Ghana.

This move continues RightCard’s dedication to complying with the Bank of Ghana’s regulatory framework as well as reinforcing service efficiency through affiliation with proven partners. In February 2023, RightCard “LemFi” formally resumed offering its services to Ghana following a temporary suspension.

RightCard delivers innovative services and products in various markets, through the LemFi app. RightCard is licenced as an Electronic Money Institution with the Financial Conduct Authority in the United Kingdom.

LemFi customers can rest assured of continuous delivery of quality service; instant money transfer, competitive exchange rate and zero transaction fee offerings. Prospective customers can take advantage, by downloading the app from the iOS, Google Play Store or on the website at

If you require additional information and updates, please visit our website at or write to us at “”
Stay connected with us on this exciting journey by following the latest news and developments on our social media channels:

Facebook: UseLemFi
Instagram: @UseLemFi
Twitter: @UseLemFi

Thank you for your continued support.

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Get ready for an extraordinary experience as Cotton Festival returns, for the 5th edition in Johannesburg, to its home at the Old Station in Newtown on April 6th, 2024. 

This year’s theme, #VoteCottonFest, goes beyond a festival; it’s a dynamic lifestyle movement whereattendees actively shape the culture through music, art, sport and lifestyle choices, celebrating theconvergence of individuality. 

Cast your votes for the new wave in youth culture, embracing diversity and inclusivity in every aspect of the festival. Engage in interactive elements and unique experiences that reflect the vibrant spirit of this years theme #VoteCottonFest. 

Cotton Festival is a testament to Bianca Naidoo’s commitment to continue the legacy createdbythelate Riky Rick. Together, they championed collaboration across music, fashion, lifestyle, and sports culture. 

We’re thrilled to announce our festival partners who share in our vision: NikNaks, Coke Studios, Vuse, Hunters, Klipdrift, Count Pushkin, 4th Street Wine, NBA, Jägermeister, Youth X by Nedbankand Red Bull. 

In collaboration with dynamic media broadcast partners like YFM and MTV Base, Cotton Festival’s reach extends far and wide, resonating with youth audiences throughout the country. 

Featuring the hottest South Africa talent, artists will perform across 3 stages. 

Save the date, embrace the theme, and join us on April 6th, 2024, in this celebration of individuality, expression and empowerment of young creatives! #CottonfestJHB #VoteCottonfest2024 #VoteCottonFest 

Tickets for this immersive lifestyle experience are ON SALE NOW at Pick n Pay and Webtickets –secure yours here. 

• R200 Early Bird Tickets – limited tickets available 

• R300 General Admission – limited tickets available 

Stay tuned for more information. 

We Never Die. We Multiply.

For media accreditation opening next month and all media inquiries, please contact Sade Simons at, or +27 79 961 1924. 


Cotton Festival, created by the late Riky Rick, is more than a festival, it’s a movement! Burstingonto the scene in 2019, the festival champions collaboration across music, fashion, lifestyle, andsports culture. Committed to inclusivity and safety, Cotton Fest is a celebration of the newwaveinyouth culture. 

Follow #VoteCottonFest2024 

Website – 

Instagram – @cottonfestjhb 

Facebook – @cottonfestjhb 

Twitter – @cottonfestjhb”

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Custom Wedding dress: Everything You Should Know



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For brides who are searching for a particular gown but are unable to locate it anyplace, a custom gown can be the perfect fit. If so, please continue reading about the process of creating and designing below. Furthermore, it is recommended to start making your own custom gown at least nine to twelve months prior to your big day

Perhaps the perfect option for you is a custom bridal gown.If you have a unique body shape and can’t find the right design anyplace, or if you want to incorporate a beloved piece of clothing (like your grandmother’s antique lace handkerchief), making your own wedding dress is a terrific option.

How Are Customised Wedding Dresses Made?

These dresses are mainly constructed from either taffeta, satin or silk. However, some women prefer making their own dresses using personal materials that they have emotional attachments to. Additionally, if you want your wedding dress to be environmentally friendly, both hemp and bamboo are good choices.

You can buy these materials online or go to the nearest store that sells fabrics to get the best fabrics and designs at reasonable prices. On the other hand, you may put on an ancient crafty piece of attire along with your selected wedding dress.

However, before getting down to work, it is worth noting that you should first pick up a fabric that one will find more close resembling his taste. After this task, you will need a body measurement and create a mockup dress in order to ascertain its perfect fit. To accomplish this stage, you can either buy dressmaking software or use sewing machine as well as needles and thread hands when making a sample for service delivery.

Once everything is finalized and you’ve chosen the perfect design for your aesthetic, you may have a talented tailor make for your dress.

A Few Things to Look for in a Tailor 

Finding a tailor with experience in creating custom wedding dresses can be crucial. Even better, consider seeking a tailor who has altered bridal gowns for past brides, as they will have an understanding of the adjustments required.

Additionally, consider where the tailor is situated, and his or her fee. However, in most cases you get what you pay for: it’s just that some very good sewers charge very reasonable prices. By typing ‘wedding dress sewing services’ into Google you can acquire an array of reputable local tailors. You may also ask your friends and family members about the best seamstress within your area.

Options for Customizing Wedding Dresses

You can customise a wide variety of wedding gown styles to match your specific proportions. The most popular wedding dress categories are:

    • Ball Gowns: Full-skirted ball gowns are ideal for brides who have an hourglass form. Given that they frequently include a high waist, these dresses can be the easiest to personalize.
    • Sheath or Shift Dress: Brides with long, slim figures look stunning in sheath or shift dresses. These dresses are fairly basic, frequently featuring a fitted bodice and a voluminous skirt.
    • Column or Mermaid Dress: These dresses have a full skirt and are fitted at the waist, much like ball gowns. For brides who have an hourglass body, they are ideal. 
  • A-line Dress: Brides with apple or pear-shaped bodies look stunning in a-line gowns. 

Benefits of customize Your Clothes

Choosing to create your wedding dress has a number of perks.. First of all, you don’t have to follow trends in order to create the exact style and appearance you want. Even more environmentally friendly materials can be used to make your bridal gown, or it might incorporate sentimental clothing pieces. You may also alter your wedding gown as many times as needed to get the perfect fit.

You will be ready to wear your custom wedding dress several times, which is not possible with a custom-made or designer dress. You can wear your wedding gown to formal events such as anniversaries and weddings.


One possibility that can be uniquely yours on this big day is making your own wedding gown which no one else will own ever again. Furthermore, if you are not able to find a ready-made dress that fits perfectly because of having a different body shape, then designing custom wedding dresses could be an ideal solution.


When making the decision to sew your own bridal gown, it is advised that you research on the fabrics, stitching techniques and quantities as soon as possible. You are also supposed to start thinking about this at least one year before in order that there remains enough time to complete the dress with adjustments if any would be required..

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Efya set to thrill UK fans with epic concert on March 16th



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Sleeky Promotions is gearing up to present a spectacular showcase featuring Ghanaian songstress Efya in the UK. (more…)

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